Life Insurance – Term Plan details

Life Insurance is the first step of Financial Planning. And in Life insurance – Term Plan is the best bet. Term plan is simple – if the insured person dies his nominee get the insured amount. If he doesn’t die there is no return. This makes it the cheapest form of life insurance.

But again its difficult to choose which term plan to opt for. In this post I have listed all the term plans available in the Indian market along with the minimum and maximum age for getting insured in the plan. Also it has the maximum tenure and the maximum age till which you can get insurance along with the riders available. The premium for insurance of Rs 1 Crore for normal 25 years old non-smoking male for 25 years term, varies from Rs 7,000 to 25,500 for Rs 1 crore insurance depending on company, plan and riders available.

Hi Sameer
Aviva i-Life is best online term plan as it has lowest premium for a particular age group, but that should not be only criteria while selecting a life insurance. You might want to look at the claim settlement ratio, riders available among other things while getting life insurance. Also you might want to check on online insurance providers like HDFC, Aegon, Kotak, ICICI among others to check lowest premium for your age and lifestyle.

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